Nico Paz is thriving in Italy while keeping a familiar path within sight. The 20 year old says he is very happy at Como under Cesc Fàbregas but will not shut the door on a Real Madrid return, noting that you never know when asked about going back to the Bernabéu.

Paz has framed his stance with calm clarity. He is focused on Como’s season and grateful for a coach who trusts young players, yet he still feels a strong bond with Madrid, the club he says gave him everything. He described Como as a great team in a beautiful setting and emphasized that working with Fàbregas helps him grow at a key stage of his career.

Reports in Spain say Madrid chose not to trigger an €8 million buy back this summer and will revisit the decision next year in line with a broader policy of managing academy talents through staged clauses.

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The options extend beyond 2025 with reported fees rising to €9 million in 2026 and €10 million in 2027, allowing Madrid to monitor his Serie A progress and retain flexibility on a future return.

Premier League links surfaced including Tottenham interest though no formal offer has been reported. Paz downplayed the speculation, stressing that he remains calm and committed to Como with an important campaign ahead. His rise also intertwines with ambitions at international level for Argentina, a storyline that explains why Madrid continue to track him closely.

Spanish and international coverage converge on the same theme. Paz is embracing the present at Como while leaving future options open. For 2025 the focus is clear, no move now, commit to Como and revisit opportunities when the next buy back window arrives in 2026.

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Looking to 2026 and 2027 Madrid still retain accessible paths back to a player they rate highly, making his season under Fàbregas a pivotal chapter before any decision is made.